Redwood Grove Capital LLC Buys New Shares in International Flavors & Fragrances Inc. $IFF

Redwood Grove Capital LLC purchased a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFFFree Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 219,682 shares of the specialty chemicals company’s stock, valued at approximately $17,403,000. International Flavors & Fragrances accounts for approximately 4.4% of Redwood Grove Capital LLC’s investment portfolio, making the stock its 12th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IFF. Lloyd Advisory Services LLC. purchased a new stake in shares of International Flavors & Fragrances in the fourth quarter worth $27,000. Root Financial Partners LLC raised its position in shares of International Flavors & Fragrances by 97.9% during the first quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 274 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after buying an additional 210 shares in the last quarter. Transamerica Financial Advisors LLC boosted its position in shares of International Flavors & Fragrances by 884.1% during the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock worth $50,000 after acquiring an additional 610 shares during the last quarter. Finally, EFG International AG purchased a new position in International Flavors & Fragrances during the fourth quarter valued at $73,000. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Trading Up 1.8%

Shares of NYSE IFF opened at $87.32 on Wednesday. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $89.32. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.06 and a quick ratio of 1.72. The business’s 50 day moving average is $79.90 and its two-hundred day moving average is $76.54. The stock has a market capitalization of $22.28 billion, a P/E ratio of 80.11, a PEG ratio of 3.17 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFFGet Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.25). The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.62 billion. International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. International Flavors & Fragrances’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 earnings per share. As a group, research analysts expect that International Flavors & Fragrances Inc. will post 3.08 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a $0.40 dividend. The ex-dividend date is Friday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 1.8%. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently 146.79%.

International Flavors & Fragrances declared that its board has approved a share buyback program on Tuesday, August 4th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to purchase up to 12.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IFF. Argus boosted their price target on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Zacks Research lowered International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Jefferies Financial Group boosted their target price on International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. UBS Group increased their price target on International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Finally, BNP Paribas Exane lifted their price objective on International Flavors & Fragrances from $85.00 to $95.00 in a research note on Thursday, May 7th. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and an average target price of $91.40.

View Our Latest Analysis on International Flavors & Fragrances

Insider Activity

In other International Flavors & Fragrances news, CAO Marc Birenkrant sold 1,000 shares of International Flavors & Fragrances stock in a transaction on Friday, August 7th. The shares were sold at an average price of $85.00, for a total transaction of $85,000.00. Following the completion of the transaction, the chief accounting officer directly owned 3,446 shares of the company’s stock, valued at $292,910. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Deveau sold 8,825 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $85.55, for a total transaction of $754,978.75. Following the completion of the sale, the executive vice president directly owned 5,199 shares in the company, valued at approximately $444,774.45. This represents a 62.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 15,543 shares of company stock valued at $1,315,659 over the last ninety days. 1.07% of the stock is owned by corporate insiders.

International Flavors & Fragrances Profile

(Free Report)

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.

See Also

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Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

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